SMALLER COMPANIES INVESTMENT TRUST PLC (THE) - U.SVN- Profile

Smaller Companies Investment Trust PLC (The). The Company's principal activity is that of an Investment Trust. The Group invests in the securities of a smaller companies incorporated in the United Kingdom, Channel Islands or Republic of Ireland. The objective of the company is to secure a high level of long term total return for its shareholders through a diversified portfolio of quoted securities, issued by smaller companies incorporated in the United Kingdom or Republic of Ireland. The Company has been approved by the Inland Revenue as Investment Trust for the purposes of Section 842 of the Income and Corporation Taxes Act 1988 for the year ended 31-Dec-2000.Investment management services are provided by Aberdeen Asset Managers Ltd for a fee based on an aggregate of net asset value and the principal amount outstanding of the Equity-Linked Unsecured Loan Stock 2003 at a rate of 0.1% per month on the first £25m, plus 0.08% per month on the next £50m, plus 0.06% per month on the excess over £75m (plus VAT). Invests in the securities of smaller companies incorporated in the United Kingdom, Channel Islands or Republic of Ireland